Practice Management
PII premiums rises to be lower than last year, says Law Society research
Professional indemnity insurance premiums will rise again this year but by less than in 2022, when it was 12% across the market, Law Society research has predicted.
City practice is first law firm to obtain ISO diversity certification
City firm CMS UK has become the first law firm to be awarded the new ISO 30415 diversity and inclusion certification, helping it to measure progress and decide what to focus on.
Fee-share firm to give retiring partners 10% of clients’ fees for life
A groundbreaking fee-share practice is to pay retiring lawyers 10% of the fees generated from their former clients for the rest of their lives and then their families once they die.
Two-thirds of large law firms researching generative AI
Nearly two-thirds (64%) of large law firms in the UK are exploring the potential of generative artificial intelligence (AI), along with around a third of smaller firms, a report has found.
£1.8m grant to help SME law firms “make sense” of tech market
A project to help around 60 SME law firms navigate a “confusing” market and adopt digital technology has been launched with £1.8m in government funding.
Mentoring scheme aims to help firms retain Black lawyers
A mentoring scheme involving qualified Black lawyers and senior lawyers in other law firms aims to help firms retain Black lawyers as well as understanding the obstacles they face.
Family law firm allows solicitors to work four-day week
A family law firm in North London is giving its solicitors a day off every Wednesday as part of a pilot of the four-day working week, its managing director has revealed.
“AI won’t replace lawyers – so long as they embrace it,” says top City firm
Generative artificial intelligence will not replace lawyers, but lawyers who use it will replace those who do not, the head of lawtech at a leading City law firm has predicted.
Top accountants set to grow legal arm after innovative PE deal
Top 10 accountancy firm Moore Kingston Smith is set to expand its legal services arm after becoming the first to take on private equity funding while staying a limited liability partnership.
Ince Group was sold for £2.2m while owing creditors £41m
National law firm Axiom DWFM is paying £2.2m for listed practice Ince Group, whose creditors are owed £41m, according to the administrators, who set out what went wrong.
Blog
Accountability has to live within governance, not with one person
The assumption has long been that a COLP or COFA is personally exposed to the consequences of anti-money laundering breaches.
The SRA’s client money reforms: good intentions, questionable execution
On the face of it, the SRA’s plans to tighten protections around client money sounds sensible. The detail, as ever, tells a more complicated story.
Recruitment, retention and reward in the legal accounts world
Understanding the legal finance market is important – not just for those actively involved in it day-to-day but also for leaders within law firms.
